Glennmont secures route-to-market PPA for 84 MW of Italian wind
Wind farm in Italy. Source: ERG SpA (www.erg.eu).
UK fund manager and clean infrastructure investor Glennmont Partners has signed a route-to-market power purchase agreement (PPA) for 84 MW of wind projects in Italy with energy trading and asset management group Trailstone.
The contract will bring the total wind turbine capacity managed by Trailstone in Italy to more than 500 MW, the group said on Wednesday.
The names of the wind projects covered by the deal were not specified. Under the arrangement, Trailstone will use its market access and proprietary renewables optimisation platform to reduce balancing risk and maximise the trading revenues for the specific portfolio of Glennmont-owned assets.
“This route to market PPA will ensure that our carefully selected, risk-managed investments deliver sustained performance and reliable returns,” said Francesco Cacciabue, Partner at Glennmont.
Glennmont, part of US-based asset management company Nuveen, has more than 1.5 GW of wind, solar and biomass capacity across Europe. Last month, it acquired seven solar projects in Italy with a combined capacity of 65 MW, all qualified to take part in domestic auctions.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.